Wednesday, April 19, 2017

Today's Best Mansions: They’re lavish. They’re huge. They're grand. They're expensive.

#1     169 Hudson Street #PHN, New York, NY 10013 with 4 bedrooms, 6 baths, and 5,095 sq.ft. is listed for sale at $21,000,000.



This 4 bedroom, 4 full and 2 half bath penthouse offers ~5,100 square feet of indoor space and over 2,500 square feet of private fully irrigated and planted terrace and roof deck complete with outdoor kitchen and heated infinity pool. Accessed via a keyed elevator, and perched atop of 169 Hudson Street, in historic northwest Tribeca, this marvelous duplex home is flooded with light across radiant heated reclaimed chestnut hardwood floors. Custom designed and crafted light fixtures by famed Steampunk designer Art Donovan and hand-milled oak, oil-rubbed bronze, and mahogany built-ins are beautifully offset by the incredible chef's quality mahogany-clad kitchen with Viking double ovens and warming oven, 6-burner vented cooktop, 2 Miele dishwashers, and soapstone countertops. Hidden away, the large butler's pantry offers extra cold storage and wine refrigeration. A black Belgium marble surrounded decorative fireplace adds ambiance to this special space.

















Today's Top LA Luxury Estate 


The median home value in Los Angeles County is $556,300. Los Angeles County home values have gone up 7.-% over the past year, Zillow predicts they will rise 0.8% within the next year.

The median home value in Brentwood, 90049 is $2,493,800. Brentwood home values have gone up 6.8% over the past year.  Zillow predicts they will rise 1.5% within the next year

The median home value in Malibu is $2,887,500.  Malibu home values have gone up 5.7% over the past year.  Zillow predicts they will rise 0.8 % within the year.'
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The median home value in Bel Air, 90077 is $3,283,500. Bel  Air home values have gone up 2.9% over the past year.  Zillow predicts they will remain even 0.0% within the next year.

The median home value in Beverly Hills 90210 is $4,842,000.  Beverly Hills home values have gone up 6.0% over the past year.  Zillow predicts they will rise 0.6% with the next year.

#1     850 Linda Flora Drive, Bel Air, CA 90049 with 5 bedrooms, 8 baths, 
and 8,177 sq.ft. is listed for sale at $19,500,000.


Contemporary architectural masterpiece in Bel Air. The façade's horizontal lines are accented by a striking, translucent glass vertical wall - inspiration for the home's "Lantern House" name by architect Michael Kovac. Contemporary features such as seamless glass walls and a central reflecting pool maximize indoor/outdoor living, while the dining room and other living spaces feel warm and inviting with natural materials like wood and leather. Chef's kitchen features Ceasarstone counters and back-splash; Miele ovens; Sub-Zero refrigerators; Poliform cabinets; plus informal dining with full access to outside. The home's dramatic hillside perch allows stunning panoramic views. - all from the living room, outside bar, pool and BBQ, to the master suite which encompasses the entire second floor. Two other bedrooms each with bathroom and walk-in closets grace the downstairs. There is a family room, wine cellar and additional guest with separate entrance on the lower level. 








Today's Top Phoenix Luxury Estate  

A photo showing the skyline of Phoenix, looking north.  It shows the various buildings of the downtown area, as well as Sunnyslope Mountain in the background
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The median home value in Scottsdale is $416,500. Scottsdale home values have gone up 2.9% over the past year. Zillow predicts they will rise 0.2% withiin the next year. 

The median home value in Carefree is $753,200. Carfree home values have gone up 5.0% over the past year.  Zillow predicts they will rise 1.6% within the next year.  

The median home value in Paradise Valley is $1,603,200.  Paradise home values have gone up 2.5% over the past year. Zillow predicts they will rise 0.3% within the next year. 


#1     10500 E Lost Canyon Drive, Scottsdale, AZ 85255 with 4 bedrooms, 5 baths, 
and 7,120 sq.ft. is listed for sale at $5,300,000.


Unique Frank Llyod Wright Contemporary offering harmony, serenity and privacy in the Sonoran Desert. Spectacular 9 plus acre canyon home site with exquisite 360 degree panoramic views that range from unobstructed desert to to twinkling city lights. Crafted by the internationally renowned Bing Hu, this custom home is fully equipped with gourmet kitchen , Dacor double ovens, 6 burner gas stove, large Sub-Zero and 3 dishwashers. Yard rivals the finest of resorts with reverse negative edge salt water pool with 40 foot lap lane, spa, and outdoor kitchen. Integra block and steel frame construct throughout. Attached guest suite complete with living room area and kitchenette. The home offers TOTAL automation. State of the art Sun Power system and delivers low cost energy.











Today's Top San Diego Luxury Estate 


The median home value in San Diego County is $529,200. San Diego County home values have gone up 5.4% over the past year. Zillow predicts they will remain even 0.0% within the next year.

The median home value in La Jolla, 92037 is $1,487,400. La Jolla, 92037 home values have gone up 6.7% over the past year.  Zillow predicts they will rise 0.1% within the next year. 

The median home value in Solana Beach 92075 is $1,262,200. Solana Beach 92075 home values have gone up 4.9% over the past year.  Zillow predicts they will decline - 0.6% within the next year.

The median home value in Del Mar 92014 is $1,684,400 Del Mar home values have gone up 10.1% over the past year.  Zillow predicts they will rise 1.5% within the next year.

The median home value in Rancho Santa Fe is $2,560,100. Rancho Santa Fe home values have declined -4.4% over the past year and Zillow predicts they will decline -3.0% within the next year.

#1     8542 El Paseo Grande, La Jolla, CA 92037 with 3 bedrooms, 6 baths, 
and 9,320 sq.ft. is listed for sale at $16,400,000.


Beachfront on the sands of La Jolla Shores, this vast residence is uniquely and prominently positioned among the very few residences on this renowned beach for magnificent panoramic coastal views.Beautifully designed with 50 linear feet of frontage and glass and an expansive seaside deck for endless whitewater surf, sunset, wildlife, and people-watching.








Today's Top San Francisco Luxury Estate 

Image result for San Francisco skyline pictures

The median home value in San Francisco is $1,145,300. San Francisco home values have gone up 0.0% over the past year.  Zillow predicts they will decrease by - 0.5% within the next year.

The median home value in Sausalito is $1,280,200. Sausalito home values have gone up 4.4% over the past year. Zillow predicts they will rise 0.3% within the next year. 

The median home value in Tiburon is $2,490,300. Tiburon home values have gone up 1.4% over the past year.   Zillow predicts they will rise 0.4% within the next year. 

The median home value in Saratoga is $2,399,200. Saratoga home values have gone up 0.9% over the past year.  Zillow predicts they will rise 0.3% within the next year. 

The median home value in Atherton is $6,271,800. Atherton home values have gone up 6.7% over the past year and Zillow predicts they will rise 1.7% within the next year. 

#1     10718 Mora Drive, Los Altos Hills, CA 94024 with 6 bedrooms, 8 baths, 
and 9,700 sq.ft. is listed for sale at $18,000,000.


Starchitect Robert Swatt of the renowned Swatt-Miers Architects understood complexity and the opportunities of the view lot not to mention the architects honed inclination to analyze every aspect of the experience.Considering its size, the house makes a relatively discreet impression from the street for maximum seclusion. Once encountered straight on, however, the scheme is a tour de force of architectural acrobatics, its breathtaking overhangs and column-free spans engendering a palpable sense of weightlessness. This quality is perhaps most eloquently expressed in the two independent volumes balanced atop the houses main level.The developer clearly appreciates the power of suspense, which builds as visitors enter a driveway to the massive laser measured Machiche wood (a Brazilian ironwood), smooth stucco and glass siding with a pivoted capacious walnut wood entry crowned by a dramatic approx. 24 foot ceilings that present seamless interior and exterior spaces and introduces the structures scale and luminosity. But the coup de Thtrea jaw-dropping panorama of the canyon below and the sprawling metropolis and San Francisco bay. In the foreground is an infinity edge pool and disappearing walls of glass that when those dazzling views open, the architecture recedes into the background, acting as a frame for the views from the East Bay mountains to the approx. 3,000 acre open space and Western Hills.











Today's Top Seattle Luxury Estate 

The median home value in Kirkland is $609,700.  Kirkland home values have gone up 13.5% over the past year.  Zillow predicts they will rise 4.0% within the next year.

The median home value in Seattle is $624,700. Seattle home values have gone up 11.4% over the past year. Zillow predicts they will rise 3.8% within the next year.

The median home value in Bellevue is $762,500. Bellevue home values have gone up 12.8% over the past year. Zillow predicts they will rise 3.9% within the next year. 

The median home value in Mercer Island, WA is $1,349,500, Mercer island home values have gone up 12.3% over the past year.  Zillow predicts they will rise 4.1% with the next year.

The median home value in Clyde Hill is $2,275,200. Clyde Hill home values have gone up 11.8% over the past year. Zillow predicts they will rise 3.4% within the next year.

The median home value in Medina is $2,376,600. Medina home values have gone up 10.5% over the past year and Zillow predicts they will rise 3.6% within the next year.

#1     5155 NE Latimer Place, Seattle, WA 98105 with 5 bedrooms, 4 baths, 
and 3,800 sq.ft. is listed for sale at $3,250,000.


Rarely available: Historic estate sited for complete privacy on a 20,000' parcel with unheralded sweeping views of Lake Washington and Mt Rainier. One of the 3 original estates in Laurelhurst. Originally built as a large carriage house, it has been expanded to reflect the changing needs of its owners over the years. Spacious main level for entertaining. Upper level: master suite with jaw dropping views, 2 brs + gathering area. Lower level with guest space. Write the next chapter!












Today's  Real Estate News
Inventory is Key to 2017 Housing Market

By Jann Swanson
Mortgage News Daily

The housing inventory, or lack of it, dominates Freddie Mac's Outlook for April.  The company's Economic and Housing Research team says the supply of for-sale houses, especially starter homes, is at its lowest level in over ten years.  This has real implications for home sales in 2017 and, unless inventories improve, they see a decline from last year when sales were the best in a decade.

Between December 2016 and February of this year homes available for sale averaged an estimated 3.6-month supply, based on the current rate of absorption.  This was the lowest supply since 2000.  Last year there were 1.17 million housing starts and Freddie Mac estimates there will be 1.36 million this year.  However, they also project a need for 1.7 million additional units just to meet the demand created by new household formation, second home demand, and to replace existing housing stock. 

Average marketing time in February was 3.0 months, compared to a historical average of 5.3 months.  This alone, the economists say, is not a cause for concern if it can be explained by an efficient market.  However, the number of homes for sale, both new and existing is significantly below pre-crisis years.  The historic average for combined inventory is 2.527 million units; in February, the number was 1.801 million.



Freddie Mac sees the inventory problem as circular.  Many existing homeowners who might like to move to a better location or to a larger home are not doing so out of fear they won't find a home they want or need and can afford.  That situation is aggravated by both interest rates and rising prices.  In some cases, homeowners who bought at the pre-crisis peak have not fully recovered their equity to an extent that they have a downpayment on a new home. Because of these factors, homeowners are staying in their homes for longer periods than before the housing crisis.  

Existing homeowners who are not selling their homes add to a problem already created by pent-up demand following the housing crisis and growing numbers of Millennials who are forming households.  This problem is not unique, Freddie Mac says, to the strongest housing markets.  Tight inventories are common in most areas across the country.

Decisions by existing homeowners will impact the housing inventory but also will affect home sales this year.  Freddie Mac projects sales to decrease to 5.90 million in 2017.  The spring homebuying season depends on whether those willing to list their homes do, and those looking to buy get lucky, find a home, and buy. That will be key to understanding how the market performs over the rest of the year.

Mortgage rates, which are an important factor in home buying, could also come into play. If inflation reaches its target rate and labor markets tighten further, mortgage rates will rise as projected. This will make it difficult for some homebuyers, who might not be able to afford the higher mortgage payments and therefore might be sidelined.

Freddie Mac sees other economic news falling in line with their projections.  The labor market is continuing to strengthen, as the unemployment rate dropped to 4.5 percent in March-the lowest rate in nearly a decade, and inflation has gradually been ticking up since the start of the year. The Consumer Price Index (CPI) increased 0.1 percent in February and was at 2.7 percent year over year. Core-CPI (exclusive of food and energy components) increased 2.2 percent annually.

While full employment and rising inflation are signs of a strong economy, they also have the potential to push mortgage rates and house prices up. The higher rates and higher home prices (up 5.8 percent on an annual basis in January) create significant affordability concerns, which may continue to characterize the housing market for the rest of 2017
Today's Mortgage Rates

                                                                                                                                 52 Week.
ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.00%4.04%-0.043.34%4.39%
15 Yr FRM3.25%3.27%-0.022.69%3.61%
FHA 30 Year Fixed3.65%3.75%-0.103.15%4.10%
Jumbo 30 Year Fixed4.27%4.31%-0.043.42%4.60%
5/1 Yr ARM3.04%3.07%-0.032.80%3.25%



Updated: 4/18/17 3:36 PM




Rates Pushing Deep Into Post-Election Range
Apr 18 2017, 3:50PM

After stumbling just slightly yesterday, mortgage rates returned to their recent habit of setting new 2017 lows today.  At this point, we're getting closer and closer to post-election lows.  You'd have to go all the way back to November, 14th 2016 to see anything lower.
In specific terms, even more lenders have joined the majority in quoting conventional 30yr fixed rates of 4.0% on top tier scenarios.  The more aggressive lenders are now back into the high 3% territory (3.875% mainly, with a very small minority at 3.75%).  Many lenders are quoting the same NOTE rates as yesterday, but today's upfront costs are moderately lower on average.  

Rates are benefiting from geopolitical uncertainty and a cooling-off of investor optimism over the Trump administration's fiscal policy path.  

Loan Originator Perspective


The bond rally, though modest today, continues.  With the trend being our friend, I continue to favor floating until you are within 15 days of funding.   If you are planning on locking today, wait until as late as possible to allow lenders to reprice for the better.  As of about noon  today, only a couple lenders have passed along some gains, and I suspect we shall see more.  -Victor Burek, Churchill Mortgage

Bond markets continued rallying in impressive fashion today, and yields hit levels last seen in mid November. Whether it's international tensions, fiscal disarray, or economic stagnation, bonds are benefiting. Hard not to consider floating here, as pricing typically takes longer to improve during rallies than it does to worsen during sell-offs. -Ted Rood, Senior Originator

Today's Best-Execution Rates

  • 30YR FIXED - 4.0%
  • FHA/VA - 3.5 - 3.75%
  • 15 YEAR FIXED - 3.25%
  • 5 YEAR ARMS -  2.75 - 3.25% depending on the lender
Ongoing Lock/Float Considerations
  • Investors were relatively convinced that the decades-long trend toward lower rates had been permanently reversed after Trump became president, but such a conclusion would require YEARS to truly confirm
  • Instead of continuing higher in 2017, rates instead formed a narrow, sideways range, and held inside until April.  Investor perceptions are shifting such that fiscal reforms and other policy developments will need to live up to expectations in order to push rates higher.  Geopolitical risks would also need to avoid flaring up (more than they already have)
     
  • For the first time since the election, we're in a rate environment where you wouldn't be crazy not to lock at every little opportunity/improvement.  Until/unless it's broken, the highest rates of early-2017 mark the ceiling, and we're now waiting to see how much lower we can go from here.
     
  • Rates discussed refer to the most frequently-quoted, conforming, conventional 30yr fixed rate for top tier borrowers among average to well-priced lenders.  The rates generally assume little-to-no origination or discount except as noted when applicable.  Rates appearing on this page are "effective rates" that take day-to-day changes in upfront costs into consideration.
Thanks for reading today's Blog.  Looking for more information?  Have a comment?  Please call, text or email me at 619-944-8749 or furtree@msn.com. Most importantly, have a great day!

Cordially,

Tom Furino

PS.     Check out all the featured Best Mansions and Top Luxury Estates in Los Angeles, Phoenix, San Diego, San Francisco and Seattle Listed For Sale anytime at:

www.todaysbestmansionsforsale.com
www.laluxuryrealestateupdates.com
www.phoenixluxuryrealestateupdates.com
www.seattlerealestateluxuryhomesupdates.com
www.sandiegorealestateflashreport.com
www.sfluxuryrealestateupdates.com